Our primary business is Investment Management, which we customize to each client’s unique situation, risk tolerance, and investment goals. The only way we are paid is by the management fee you pay us. We aren’t paid by commissions or transaction charges, nor do we have any incentive to use high fee products.
For our investment management clients, all of our financial planning services are complimentary. Since these services are included in what you already pay us, we encourage you to get as much work out of us as you can. We want you to do more planning, not less.
Yes, P&A is held to a fiduciary standard of care, which means we are required to always act in our clients’ best interests. This standard applies when we are providing advice to you, as well as when we are implementing the advice. Fee-based is not the same as fee-only. Read our “Statement of Fiduciary Responsibility to Clients.”
We are fee-only, which means our only compensation is the annual management fee we charge (a percentage of the assets we manage for you). For our clients invested in mutual funds or exchange-traded funds (ETFs), our annual fee is 0.75%. For clients who prefer individual stocks and bonds, we have a tiered fee schedule that begins at 1% and goes lower based on account size. P&A does not sell any products or get paid by commission or transaction charges. This eliminates the conflicts of interest found in many other financial advisory relationships. Click here to see our Fee Schedule.
Great question! Our clients pay their own trading commissions ($4.95 per stock trade at Charles Schwab if you take electronic statements and confirms) and the mutual funds/ETFs we use in client accounts carry their own operating expenses. For our mutual fund accounts, we like to keep the expense ratio of these portfolios to less than 0.50%. We accomplish this by using index funds with some managed mutual funds mixed in. It’s in our best interests (and yours) to keep all other investment expenses to you as low as possible.
Seven members of your team hold the CERTIFIED FINANCIAL PLANNERTM designation and we have one Chartered Financial Analyst (CFA) on our staff. The CFP® is the highest professional designation in the financial planning field, while the CFA is the highest designation for investment management. Collectively, our Investment Committee has been managing money and providing advice for our clients for over 150 years.
Neither Pittenger & Anderson as a firm nor any of its employees have ever been disciplined by the SEC, FINRA, or any other financial regulatory body. To check the disciplinary history of any CFP® you can go the CFP Board of Standards website. To check the disciplinary history of a stockbroker or fee-based advisor, go to the FINRA Broker Check website.
Yes, and this is a great question. Charles Schwab is our custodian of choice, although we do have a handful of clients who prefer to keep their assets custodied at a local bank or other custodian. Charles Schwab holds our clients’ cash and investments, they execute trades, allow our clients to borrow against their account, and send our clients monthly statements. Having an independent third party custodian gives our clients peace of mind knowing their assets are safe. When you make a deposit to your account, checks are made out to Charles Schwab & Co., not to Pittenger & Anderson.
Yes we can. Once we have held initial discussions and learned more about you and your financial situation we’ll be able to give you several client references (after we have talked to and received the client’s permission).
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